Being a lifelong entrepreneur, Andrew started his first business after dropping out of Arizona State University. By the age of 22, he was making more money than he had ever expected, but he was also burdened with paying a significant amount in taxes.
Years of dreaming about achieving business success, earning substantial income, and having complete control over his life were overshadowed by the realization that a significant portion had to be given away to the government. This aspect is rarely discussed. As his first business became successful, he began to travel more. Within a few years, he had automated his business operations and was spending at least half of his time traveling.
Despite spending over six months outside the US, he was still subjected to a 43% tax rate. The money that wasn’t allocated to taxes or travel was reinvested into other US businesses, which also proved profitable but increased his tax obligations further. Just like the reader, he has endured the challenges of being at the mercy of the taxman and understands the associated feelings. Nomad Capitalist isn’t merely presenting a detached theory; it is grounded in his personal experiences.
Over the past 12 years, he has traveled to more than 100 countries, actively seeking and experimenting with the most favorable offshore strategies worldwide. Along the way, he has made numerous mistakes, costing him significant time and money. Achieving a life of nearly complete freedom and a 1% tax rate has been an expensive journey. When he started, there was no Nomad Capitalist to guide him through the process or provide a customized plan tailored to his specific situation.